The Security and Exchange Board of India (Sebi) is maintaining a constant vigil to check any market manipulation by banned stock brokers, Parliament was informed on Friday.
The Sebi maintains a constant vigil, and in case of any abnormality, takes appropriate action against the concerned entities, Minister of State for Finance Arjun Ram Meghwal said in a written reply to the Lok Sabha.
The regulator has also been conducting regular meetings with officials of stock exchanges and depositories, to advise them to step up their own surveillance measures to initiate expeditious demonstrative action in order to protect investors' interest and ensure orderly functioning of the stock market.
"Sebi has informed that no such instances have been observed by Sebi, wherein a banned stock broker in collaboration with others, has illegally manipulated the stock markets. Therefore, Sebi has not conducted any investigation in this regard," Meghwal said.
To a separate question, the minister said the Sebi has not received any complaint about listed companies refusing to pay dividend to shareholders.
"The Sebi has informed that it has not received any specific complaints about listed companies refusing to pay dividend," Meghwal added.
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According to norms, the top 500 listed companies are required to disclose their dividend distribution policies in their annual reports as well as on their websites.
The top 500 companies are based on market capitalisation.
Under the Companies Act, a company is empowered to take decision on payment of dividend and government has no role in it.
The regulator has also tightened norms for taking exposure in the Indian capital markets via participatory notes, as part of its efforts to ensure transparency.